KneoMedia Raises $2m for new sales contracts
- Online education publisher KneoMedia (KNM) successfully raises just over $2 million via a share placement
- The funds were raised through the issue of around 166 million fully-paid ordinary shares to participants at 1.25 cents
- Subject to shareholder approval, the participants will receive one free attaching option for every two placement shares, exercisable at 2.5 cents with expiry on December 31, 2023
- The platform will use the money to underpin the anticipated deployment of new sales contracts in the United States, primarily in New York
- Kneo Media ends the day 3.57 per cent in the red with shares trading at 1.4 cents
